Taxes...it's what's cool on the streets
How many income taxes do we pay living in Huntingdon Valley, PA?
5
The proper term for your credit score is your _____ score.
FICO
How fast you can turn an asset into cash is called ___________.
Liquidity
What level of the government issues U.S. Treasuries? For a bonus: specifically what departmental agency issues the Treasuries?
Federal Government
U.S. Department of Treasury
IRA's & 401(k)'s are structured with what type of investments?
(A) Stocks. (B) Bonds. (C) Mutual Fund. (D) Annuity. (E) Treasuries.
C - as a mutual fund
The income taxes that are deducted from our paychecks are _____, _____, _____, _____, and _____ _____.
Federal, State, Local, Medicare, and Social Security
What retirement/investment account should be in your Expenses section of your Google Sheets budget spreadsheet?
Roth IRA
This investment strategy is when you invest the same dollar amount at set intervals, regardless of the stock price.
Dollar Cost Averaging
T-Bills are sold at a range of maturity from...
(what is the minimum and maximum)
a few days to 1 year
You are taxed at Retirement with this retirement account.
Traditional IRA
According to the IRS, what is the annual maximum for an IRA (Individual Retirement Account)?
$7,000
How should you calculate Mortgage Affordability?
Gross Monthly Income * 28%
What is the largest electronic stock system and market in the world?
NASDAQ
Treasury Bonds are issued in a term of...
30 years
The benefit to this account is that:
at Retirement, withdrawals are “tax free”
Roth IRA
What retirement/investment account should impact your Adjusted Gross Income on your Google Sheets budget spreadsheet?
401(k)
As other interest rates _____, the bond price should _____.
As other interest rates INCREASE, the bond price should DECREASE.
Retirement planning is all about replacing the income from your job with "_____ Income"
Passive
What is the level of risk of a U.S. Treasury?
risk-free
The IRS put a maximum annual contribution for a(n)...
For a bonus, what is the amount?
IRA (Individual Retirement Account)
$7,000
What is the formula to calculate Net Income in your Google Sheets Ultimate Goal, once you get to the 401(k)?
= Adjusted Gross Monthly Income - Total Monthly Taxes
Stocks are _____ securities and Bonds are _____ securities.
Stocks are EQUITY securities and Bonds are DEBT securities.
What is the formula for Return on Investment?
(Current Share Price*Shares Owned) + (Dividend*Shares Owned)
/
(Purchase Price*Shares Owned)
What is the rating of U.S. Treasuries?
They are not rated.
With a Roth IRA, contributions are ____-____ contributions, but with a Traditional IRA, contributions are ____-____ contributions.
After-Tax
Pre-Tax